Rapidly spreading adoption of automation systems for improving process rates & government regulations is set to fuel the industrial and factory automation market; the market is estimated to reach $221.2 Billion by 2021.

According to a recent study from IndustryARC, Industrial and factory automation market is forecast to reach $221.2 billion by 2021 and is estimated to grow at a CAGR of 5.7%. The growth in the industrial and factory automation is primarily attributed to the stringent regulations and emphasis to reduce the labor costs and manual intervention in repetitive tasks in industrial environments.

Industrial and factory automation market is majorly dominated by the oil & gas industries and it is estimated to account for a share of approximately 15% in 2015. Further, pharmaceutical industries are set to witness the rapid growth of 9.4% during 2016-2021 owing to the increasing need of these systems for operation in harsh environments and so on. This is also set to be assisted by the rising pharmaceutical companies coupled with the stringent regulations with regards to the pharmaceuticals production have been boosting the adoption of automated systems.

Americas is the largest market for industrial and factory automation market globally with a revenue share of around 33% in 2015 owing to the presence of wide range of industry verticals and paradigm shift for the adoption of advanced systems and technologies to enhance operational efficiencies. Moreover, continual innovation in products as per the customer requirements have been boosting the penetration of automated systems in industries and factories. In the Americas region, Brazil is projected to witness the highest growth of CAGR 9.2% during 2016-2021 owing to the increasing adoption of these systems coupled with the increasing penetration of U.S. companies into this region.

The automation products manufacturers have utilized product launches, acquisitions and collaborations to enhance core competencies through additions to product portfolio as well as leveraging capabilities of acquired companies to gain a foothold in the emerging markets.

The overall market is also presented from the perspective of different geographic regions and the key countries for this industry. Competitive landscape for each of the system types is highlighted and market players are profiled.

IndustryARC is a Research and consulting firm that publishes more than 500 Reports Annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.

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